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forget which sound bite said it, but come is that this will not add one crept to the deficit -- one cent to the deficit, but money for first time in history that more people are taking out than putting in, treasury tooks money and spent it on missiles, paper clips and pens, now they have to write the check, they owe money to all of social security resiv resip rec. >> if we ranur be the way that washington runs theirusiness there would be a huge problem. tom: they would be in jail. >> or lose a job or out of business. i'm confident this message will be delivered, someone has to tell the public on a consistent basis we cannot sustain this. tom: i got a comment the other day from said -- someo that said, don't you think, this is the problem, this is not an entitlement they say pause we paid into it the come was, don't you think there issu are hundref billions of dollars they could cut first. >> that is the real problem is the budget. tom: talk to me about there is two social security funds, the old age, and survivor's fund, retired people. and there is the disability fund. we added 8 almost
. gerri: let's talk about entitlement programs and the impact on them. social security will have a deficit this year of $6 billion yet again. can't keep up with social security. what is the longer-term impact of what is going on on these programs? >> we really do need to have a deal on a big problem, which is the national debt larger than the economy, driven by broken entitlement programs. medicare has a huge deficit, $300 billion every year. 10,000 new beneficiaries every day. medicaid deficit finance right now. those are key parts of a safe bet that we'll b will be fallinr their own financial weight unless they are fixed. what we really have to do on behalf of the next generation. gerri: they want to raise the debt ceiling again, as a matter of fact by monday we will be out of dough. it is unconscionable to me we are in this position again. let's remember what happened last time. the market sold off, the economy went into the tank. will that happen all over again? >> i think it is a serious possibilities out like to make that they don't mix the debt ceiling in with the fiscal cliff. we h
. federal deficits were .8%. that's .8% of gdp. now our trillion dollars federal deficit amounts to 7.3% of gdp. back then trade was aa contributor to economic growth for the, economy. reunion $500 million at $4.2 billion adjustedio for inflation, and we're running a trade deficit,it trade deficit $536 billion. $536 million. back then social security made up 6.5%. 6.5%. of the federal budget. 6.5%. the decayed and medicare didn't exist back then. let's compare that to what we are doing now. a 20% of the budget on social security, and then we throw a 21% more of the federal budget for medicare, medicaid, and another 13% for other social programs, food stamps. so that comes up to a whopping 54% of the budget. 54%. forgot to mention this. it is kind of important, isn't it? back than median family income was about $38,000. $38,000. today it is $62,000. we will pretend that looks like a two and that looks like a six. we haven't done too well, more than half a century in raising a the median income ine this country and that is something he is right about, we do have to fix that. imagine thi
. i heard one of your previous news segments saying oh this is going to reduce the deficit by a trillion dollars. it's not going to come anywhere near reducing the deficit by a trillion dollars. if you do this tax increase on the rich, you maybe raise 40 billion dollars a year. that's not nothing, but 40 billion dollars over a year over ten years that's 400 billion. we're running a trillion dollars deficit. this is not a solution and not serious. that's why it always comes back to dealing with the spending side of the aisle because that's where the deficits come from. dagen: last thing, steve, what about the fate of house speaker john boehner because there's a lot more at play than just raising taxes on people who make more than a million dollars with what we saw happen last week? >> yeah, you know, i have always been a fan of john boehner's. i've known him for 20 years. i think he's a strong conservative. he's got a bit of a conservative revolt on his hands dagen. any time you have a high-profile issue like this and you are about to bring to it the floor and you have a rev
the deficit. >> the best thing for my children's future, i have two boys, one 10 years, one ten months and i'm worried about climate change and their future. we need to stop encouraging industry causing this problem, oil industry, gas and coal industries, and need to start encouraging clean energy if we ever to solve it. the very first place to stop is -- start to stop giving these subsidies. it is a no-brainer. vast majority of americans of all parties actually support this perspective. melissa: without affordable energy we have no economy. and that is for sure bad for my children. we have no jobs. we have no industry. no energy. >> why is the fastest growing new source of energy country in wind energy or distributed solar on people's roofs. melissa: because it is completely supported by the government and by my tax dollars. >> not even close as much as --. melissa: we have absolutely no money to spend on these things. do you know what they are made of. >> big oil, gas and coal are much more heavily subsidized. melissa: you and i disagree what a subsidy is, which is fine a debate for anothe
: will that tax solve the deficit spending? >> it will if you include 2%, 250,000 for couples, 200,000 for individuals and above. you start taxing capital gains and dividends, reinstate that and get rid o $109 billion in corporate taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close to fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximately eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any politicians talking reality but the fiscal problems facing the country which is democrat or republican. tom: do you have any hope that the blame game can be put aside so they can get some work done? in the private sector these people would be fired. >> absolutely. this is a do nothing congress, the least active in four years when it comes to policy making, and the reason we are her
the deficit and really end our national debt. potentially, a significant blow to the obamacare controversial o contraceptive mandate. the eighth circuit court of appeals in the preliminary injunction to stop the mandate for being enforced against the missouri catholic businesswne owners.the li the list of statesst o now, refg to set up state-run health care exchanges for insurance. it is growing. arizona becomes the latest to telling federal government but it will have to assume the burden of operating the exchange and the cost and the supervision, perhaps even running backstage, bringing the total number of states refusing to set up an exchange under obamacare to 17 states. ten other states remainm undecided as to the course they will take or it will be state, the way, the 17 states havenow e republican governors.ppellate we are joined now by peter johnson. it's great to see you. >> thank you for having me, louu dobbs. lou: what is your reaction totie that injunction against the contraceptive mandate? >> it is a surprisingri, injunction. they lost below mr. pringle bryant and his company.y th
trillion in spending with deficits and increased. it is the economy. lou: it truly is. and i want to also if we may put up the cartoon. we do this very elegantly here. please put up the carto. the envelope. i just wanted to see that. it is great. the corner from the nation of achievement, mainstream america usa to the nation of entitlement . i mean, that s to meet not only with the committee is brilliant. can we put that back up? i want to show you something. some might mess in that cartoon. if you look at the stamp in the upper right, and $0.0. it is a food stamp. i have to say, we are looking at a president who is willing, as you know, an ssistant on $82 billion of tax increases on the so-called wealthy, the top@ 2%. and that is going to amount to just about nine das, almost nine days a lot bring the federal gornment's. more andmore absurd proportions >> it really is absurd. when you think about it, the deficits cast, over a trillion dollars for e next four years. freckly this will add $80 billion a year. it is nonsense. it is a parody of reality, and the bld is not responsible about t
the deficit. a balanced plan that would cut spending in a responsible way but also ask the wealthiest americans to pay a little more. and above all, protect our middle class and everybody who is striving to get into the middle class. i still want to get this done. it is the right thing to do for our families, four or businesses and for our entire economy but the hour for immediate action is here. it is now. we're now at the point where in just four days every american's tax rates are scheduled to go up by law. every american's paycheck will get consider bring smaller. and that would be the wrong thing to do for our economy. it would be bad for middle class families and it would be bad for businesses that spend, depend on family spending. fortunately congress can prevent it from happening if they act right now. i just had a good and constructive discussion here at the white house with senate and house leadership about how to prevent this tax hike on the middle class. and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mccon
with speaker pelosi, the twin deficit the job and the budget deficit. lori: we don't hear that. we have breaking news. urinalysis is a fascinating. deschutes your analysis is fascinating we want to have you back again. tracy: and 14 major ports that are being threatened to be shut down. we will get the latest. lori: also confidence in the global economy is higher suggesting people are picking up more security. we are back after this. she keeps you guessing. it's part of what you love about her. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, ashis may cause an unsafe drop in blood pressure. do not drink alcohol
in a second. >> proposal to get our deficit uncontrol, avoid tax cuts, or avoid tax hikes on the middle class, and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending but also asks the wealthiest americans to pay more, proposal that will strengthen the middle class over the long haul and grow our economy over the long haul. during the course of these negotiations i offered to compromise wit republicans in congress. i met them halfway on taxes, and i met them more than halfway on spending. in terms of actual dollar amounts we're not that far apart. as of today i am still ready and willing to get a comprehensive package done. i still believe that reducing our deficit is the right thing to do for the long-term health of our econy and the confidence of our businesses. i remain committed to working towards that goal, whether it happens all at once or whether it happens in several different steps. but, in 10 days we face a deadline. in 10 days under current law tax rates are kedcud you would to -- scheduled to rise on most americans. even though democrats and r
of spending. stuart: look at $1 trillion deficit every year the last four years. >> the budget control act koch $1.5 trillion in spending. stuart: don't you get it? >> over ten year period. [talking over each other] stuart: i insist on this. president obama's plan cuts the deficit, it does not. it restrict future increases in the deficit. it is in the $24 trillion debt in 2015 will only be $20 trillion. [talking over each other] stuart: address the question. [talking over each other] >> let me answer you. we have a fundamental disagreement whether in a situation like this when the economy is of whether the government needs to cut spending. i do not believe it does. you believe it does. we have a fundamental difference how to proceed forward. stuart: what we need more than anything else is to stimulate the private sector and you don't do that with more spending and we need to control long-term entitlement spending. we have to reform entitlement programs. that would fix things. stuart: i agree with you on a ladder but not the former. stuart: where's the president's reform program? >> that pr
and the things we need to get this deficit and debt under control. it's about getting the economy on track and also getting the deficit under control. adam: you are a moderate, highly popular in the state of north dakota, and you have compromised with both sides on these issues, but the vast majority of the public looks at congress, all of you, the house of representatives and the senate looking at you guys with disgust. is that coming across in the halls of the capitol? do the people there understand what the people out here, the 310 million of us consider when we think about the political leadership? >> i think that is absolutely what's pushing the negotiation why we have to stay at it. as i said a minute ago, i'm in the camp where we have to continue to push until we get the job done. i'd like the big deal now. if we don't get the deal, get as much as we can and continue to go after the things we're talking about, the reforms and the savings, that we need. adam: senator, we appreciate you being with us here on fox business. while president obama and the congressional leaders work or app
-term budget deficit reduction. lou: i can tell you, your metaphor, it pro the is welcomed that nearly every year or in the country right now because the idea of being these politicians with something right now is compelling. i mean, this is really getting stupid. >> it's like spare the market, spoil the policymakers. lou: as we look at these numbers that are coming in, you were watching, as we have talked for some time. the bernanke bubble is rising. now, it's getting rater potent and driving this market. are we now seeing that shift, we are talking about over four and a half billion shares today, above the average all week. it looks like we're starting to see a real turn to equities. are we? >> that could be the case. if you believe money market rates will stay close to 0% until the middle of 2015 and ten year treasurys will climb above 2% anytime soon. it makes a great deal of sense. >> i agree. it is going to happen, and he has his paddle to the metal. he is n a point change. lou: he being ben bernanke, president obama has to figure out whether or not he going to change. i want to read
is pushing for new taxpayer support for wind projects. with our budget deficit soaring an intense debate is heating up over whether the government should be throwing your tax dollars at industry the first place. i asked robert bryce, senior fellow at the manhattan institute about this issue. let's start with the tax credit. >> sure. gerri: this is industry, let's face it they don't have a whole lot to show for themselves yet we subsidize them to the tune of $1.2 billion. why? >> remember the industry said we're all about reducing carbon dioxide. that was the whole argument. now it shifted we create jobs argument. if congress does not extend production tax credit we'll lose 37,000 jobs. they might get an extension but there is big push among utilities, a lot of groups to end the tax credit and it very well could be ended. gerri: it doesn't work that well. 84% fail to produce electricity when the demand is great. as a solution to our energy problems how would you rate it? >> it is not a solution and it is wholly dependent on electric utilities and electric generation that can be dispatched
trillion dollar deficits, both sides are being decided, and start talking about this. stuart: what is the media doing? >> typically cobbling barack obama. this guy is filing his nails while the republicans twist themselves into knots. the media are giving obama a complete pass on this one and not holding his feet to the fire on anything and keeping the gun fire on the republicans at all times. the media have been just about as silent as anyone else. all the media accept for stuart varney. stuart: flattery is the fondest milk in television. i have a prediction from you. i personally think there will be some kind of awful last-minute deal, tax the rich, don't cut spending, ignore the debt. i think that will happen. what is your prediction? >> i will put my kids and your prediction. republicans will take another step, go back another five to ten yards on the football field and the problem will just get even worse. stuart: do you think -- [talking over each other] >> the tech increase, don't anybody forget this, according to three different studies, is going to cost the american econom
? you going to still be left if you roll all of that up. you will still be left with a huge deficit. it's going to have to mean cutting the federal budget. >> even if we increase the tax rates, the top 1 percentn this country makes seven timbers of the income. 37 percent of the taxes. so a fair share argument really is it -- lou: you're getting a again start out here. your last shot. >> mr. president, please, please work with the business community. we want you to succeed, but you're putting impedimen in is next.nd make impossible. the thin line between video and reality, talking with a man who knows that line and exploits it to train our military, and he says some brutally violent video games can turn some kids int killers. colonnl dave grossman with us next. in washington, james harri. lou: joining me now, my next guest to says guns are not the real problem. kids are becoming so desensitized to violence and to death because of violent video games that we are injuring our young people. in some cases previously. the foremost experts on violence and media. lieutenant-colonel david rosen,
to a spectrum of use. what we are telling washington, you are running a deficit for the fourth year in a row and yet you can borrow money almost for nothing. so why don't you just wait another year otwo years. who wants to take the fall? who wants to take the political heat if you can borrow money for five years, which is what they are doing now. neil: we are building another debt bubble? >> yes, we are doing so. >> i don't know what you call it. we've never been there before, we've never had a central bank. we've never had anything like that. >> you don't think it can walk past the graveyard much longer? >> i don't think so. i don't think we can whistle the tune vermuch longer. >> okay. neil: if you had a lead suit you would buy it. [laughter] neil: david, thank you so much. the president is now speaking out. that coming up next neil: probably not a fox alert to tell you that huge celebrities like democrats, they actually help the president win if you think about it. but not every star was going gaga over the president. suzanne somers says that that is a risk for thm as well. if you are con
of the iceberg. we're still dealing with trillion dollars deficit. your earlier guests pointed out we have yet to come up with 2013 budget. which is projected by the democrats. this is really a challenge for fiscal concerns and what will be in the marketplace. ashley: what is your advice, what is the best way to play this? >> three things are imperative, let's start with the non-gold plate, very underappreciated allocations come into 2013. i think you may have some opportunities to buy things on the cheap in 22013 and 2014. i would allocate to the minors who have woefully underperformed embarrassingly underperformed. at 30-year lows relative to gold, so they get bit of catch-up if we do see the 2000 mark, you're going to see shares interested in that space, bringing out gold and silver do very well in that context. ashley: why is it they have lagged behind, what is the reason? >> the substitute from the exchange traded funds have captured a huge amount of interest and you are not taking accounting risk, you're not taking nationalization risk for all the risks that go into regular company or so
would certainly put on the table. those are the kinds of things. deficit and looming debt that we have been concerned about from the beginning that it would take for republicans to vote for then what the democrats are asking for which is some kind of tax increase on some high income level people and the extension of the unemployment insurance. we all want to do amt relief. we all want to do something that will help in cap gains and evidence. i think there are places where we are together and there are the fringes where we have to negotiate. dagen: are they giving a free pass because they are out there buying treasury debt? eventually, allowing you to not do anything. it is standing and ready and buying. >> i disagreed with what this ad is doing. it is one of those numbers things that we never really know what is really happening. we need to deal with overspending and too much debt in this country. that is where we are having the tension between the two parties. dagen: senator hutchinson, it was great to talk with you. thank you. some good news for you homeowners out there. we have had
it because it's required for congress to authorize borrowing money to pay our debt and deficit obligations. it's, the way i look at it, it is a mere constitutional technicality and we should raise it. i would like to make one point about on the downgrade issue that he just talked about. if we go over the fiscal cliff, that would certainly be no reason for a downgrade because we would be cutting the deficit and the debt. lori: right. >> but if we kick the can down the road here and don't do anything with a short-term solution, then i think it would be reasonable for the debt, excuse me for --. lori: another downgrade. >> for us to be downgraded, excuse me. lori: let me send it back over to you. there is a line of thinking if we do suffer a second credit downgrade that it could actually have more of ramification than just one downgrade because you do have a handful of credit agencies, right? if you're creditor of the united states and looking at the credit rating and now you have not just one but two, so you have a majority of more negative credit ratings versus pristine credit rating across
worse of a deficit. >> if you start to cut spending you're going to cut jobs. if you raise taxes you're going to cut jobs. at some point we've got to say we're going to do what's best for the long-term picture and either way we're going to take a short-term hit for longer term, more-- >>, but you could do it with less pain than what congress is about to deliver. >> you can put in spending cuts that the markets will appreciate in a long-term plan, as opposed to-- >> it's not about the market. david: bottom line, what we need are jobs and growth and tax increases are not the way to get there. gang, thank you very much. well, coal imports in china were up almost 30% as the price of coal continues to plummet. the iea says that china will be number one in coal consumption after the chinese government said they would use more renewable energy, but coal will account for about 70% for the country's energy for the next five years. joining us now is rob deans, how can they get away with this under the kyoto protocol? >> david, there's inescapebly keynesian you and i talking about goal on chris
the deficit by 40 or 50%. that does it. >> what is the most we can hope for from these guys? they will work over the new year's holiday. i know what you want. you want a flat tax. i know your wish-list but what is the best we can hope for? >> best we can hope for they all realize they will all get the blame. for once, kick the can down the road. you will not reform the tax code in 72 hours between now and new year's. entitle manlts and everything else. put it off for 60 days. begin to do real reformation of the tax code. to allow us to go off the fiscal cliff is preposterous. david: when you say a 60-day hold does that mean the president, the president says we should at least make sure taxes for those making under $200,000 doesn't go up but everybody else's taxes should go up. >> they should put everything off 60 to 90 days and sit down after new year's and say how we get the economy moving again? i think it will be clear early next year we're starting to slow down. republicans should hammer home about economic growth. most democrats at end of the day would be wailing to have reform of the
of detail he gave a week ago in a speech is basically derived from the larger deficit proposal offered over, really, the last couple years as president of the united states. we're waiting whether or not in the meeting, lasting an hour at the white house, started at 3:10, is whether or not they made progress towards changing that proposal in a fashion to pass the house of representatives or make it viable for some senate republicans to join with that. the president, the administration officials say they offered the proposal as a way to get republicans to come back with something else, they say. if not, the president wants this plan to be voted on in the house and to be voted on in the senate. this proposal is unlikely, would be making it through the house unless there's progress made off the president's opening offer, a very old offer, then we're in trouble. back to you david: that's why s&p futures went down after the bell, focused on what happens with no progress. that may change. the president is still meeting on both sides. we'll wait and see what happens when they come out if they give
, that if the revenue goes to more spending you haven't solved the deficit and the debt. the real secret to getting this thing working is getting economic growth that generates revenue rather than higher taxes. those are elements that we need to get a deal that works and that's why we think there's chance here if the president will come back with some of those savings in his proposal. adam: but here's, we had an economist on yesterday who has no skin in this game politically which gives her credibility to what she had to say. she said the most dangerous thing we could do to the economic recovery is raise taxes. tte president clearly will not give on that point. he is going to raise taxes. if she's accurate, that the worst thing we could be doing right now. why would republicans give in to that, even if it's on the top 2%? >> what republicans want to do is close loopholes and limit deductions, not raise rates but i believe the president one way or the other, the president is going to force rates higher on the upper end. i don't know that there is any way we can stop that. i agree with you. the real
revenues to pay down the deficit. has anybody called her on that, hey, look, you're only for raising rates for millionaires and above before now you're into the $400,000 level? >> i called her on it last week, and she avoided the question and didn't answer it directly. she said, we were trying to smoke out, that was her quote, smoke out republicans and steny hoyer himself mentioned that it was a ploy. so, i think they were trying to get republicans to agree to the millionaire tax increase and then see how far it will move even more. and it's politics, david. david: yeah, yeah. >> by the way the millionaire tax, only, it would basically raise money to cover eight days of government spending, but you know, david and adam, we've had the letter from nancy pelosi. do you really believe it was a ploy to smoke out the republicans? because nancy pelosi in her letter is equating millionaires to big oil, special interest and corporations. why doesn't the g.o.p. capitalize on that they really want middle class tax hikes when they're talking about raising taxes on the 250,000 plus crowd >> well, i thi
of the new tax regime that comes out of it and it will help the deficit. i am speaking anathema but that is certainty. shibani: 70 -- dennis: something wins and the economy could make stocks right at some point. thank you very much, jim laventhol. here's one retail segment that did great. gun, rifle and ammunition sales are skyrocketing following the backlash against guns at the connecticut elementary school. the world's largest supplier of firearms says it sold 3.5 years worth of ammunition clips for automatic weapons in just three days and a gun shop owner north carolina says gun sales for christmas or four times better than last year. many customers blame talk of stricter gun control for driving the rush. unintended consequences. let's look at gun stocks. the images that so smith and wesson, they are down. the middle of their sales are probably up. shibani: one of the most profitable industries out. 20% profit margins for gun sales. dennis: computer hardwaremakers 5%. shibani: on a business base is a lot of people trying to cash in because they're worried about stricter gun c
Search Results 0 to 47 of about 48 (some duplicates have been removed)

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